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January 25, 2009

Comments

John

We have no manufacturing, people overseas can provide services cheaper than we can, and we're coming out of the burst of a real estate bubble (engineered by Alan Greenspan to dodge the dot-com bubble burst). That's the problem. Since we don't produce anything (as a country, I mean), the only way to make money is through investment (essentially gambling).

And it doesn't help that we're taxed at every turn.

The proper short-term solution is to cut taxes. None of this rebate garbage, no trickle-down theory, and no more bailouts. Then companies can afford to expand or hire, and people can afford to buy things or start businesses.

The long-term solution is to manufacture good products that can't be easily duplicated overseas. Remember when we had a trade surplus? Nobody worried about a collapsing economy back then, did they? There's a reason for that.

Unfortunately, the government's plan is backwards and based on keeping the rich people rich--unsurprising, considering they and their contributors are rich, for the most part. So, they're bailing out failed industries with taxpayer money, hiking taxes, and continuing the tax credits for exporting jobs. They can spend as much as they want, but unless you own a bank, you're not going to see a big change.

If Long Island is going to get out of this quickly, it's not going to be by relying on Washington to swoop in and save us, but rather by industrious people getting their hands dirty and investing their effort into bringing industry back physically to our home towns.

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